SINGAPORE / ACCESSWIRE / July 30, 2020 / Decentralized data network Bluzelle has announced the launch of Phase 1 of its mainnet. The network will go live on August 8, enabling BLZ holders to stake their tokens and earn rewards for participating in the validation process. In addition to introducing staking rewards, Phase 1 of the mainnet will see Bluzelle transition to the newest version of Tendermint.
'Given the tremendous support from our community and validator network, we wanted them to begin earning rewards sooner than later. Phase 1 is the soft mainnet so we can make that happen,' said Bluzelle CEO Pavel Bains.
The launch of Bluzelle's mainnet follows a successful incentivized testnet program. The Swarm of Duty event awarded $30,000 in BLZ to developers and validators who participated. During the three month event that ended mid July. Bluzelle uncovered a major bug with the latest testnet version of Cosmos/Tendermint. The issue was quickly resolved with Bluzelle working with Tendermint to provide detailed logs of the incident.
Validators and delegators who wish to participate in Phase 1 of the Bluzelle mainnet are required to create a BluzelleNet address using the Bluzelle staking platform. Upon completing registration, they will be ready to start earning BLZ. Every 24 hours, tokens will be deposited to their address in return for participating in the network validation process. The tokenomics underpinning Bluzelle's staking system incentivizes early adoption, providing greater rewards to participants who join the network during Phase 1. Rewards for participants will be up to 25% per year. A second phase will entail the full mainnet launch on September 8th, bringing Bluzelle's distributed storage solution into a live environment.
By combining decentralized tech with edge computing, Bluzelle enables dApps on any blockchain to securely store and access their data in a truly distributed fashion. This mitigates one of the biggest problems with the dApp ecosystem: the reliance on centralized infrastructure that presents a single point of failure. Transitioning to decentralized storage enables dApps to provision censorship-resistant content while making them more resilient to attack.
Powered by a byzantine fault-tolerant cluster of blockchains customized specifically for database operations, Bluzelle is a decentralized database for web3. Its advanced data delivery network promises to protect businesses from data breaches, network failures and performance troubles. Bluzelle effectively serves as an 'Airbnb of databases,' with developers paying for storage space and read/write to the decentralized database.
For more information visit: www.bluzelle.com
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